Banco Bradesco S.A. (NYSE:BBD) Sees Large Increase in Short Interest

Banco Bradesco S.A. (NYSE:BBD) was the target of a significant increase in short interest during the month of February. As of February 15th, there was short interest totalling 204,950,000 shares, an increase of 27.9% from the January 31st total of 160,250,000 shares. Based on an average daily trading volume, of 43,050,000 shares, the short-interest ratio is presently 4.8 days.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and dropped their price target for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

Institutional Investors Weigh In On Banco Bradesco

Institutional investors have recently bought and sold shares of the stock. US Bancorp DE raised its position in shares of Banco Bradesco by 13.0% during the 3rd quarter. US Bancorp DE now owns 265,199 shares of the bank’s stock worth $705,000 after buying an additional 30,490 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Banco Bradesco by 33.3% during the third quarter. Robeco Institutional Asset Management B.V. now owns 2,905,021 shares of the bank’s stock valued at $7,727,000 after acquiring an additional 725,596 shares during the period. Atria Investments Inc raised its holdings in Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after purchasing an additional 8,641 shares in the last quarter. Crossmark Global Holdings Inc. lifted its position in Banco Bradesco by 5.1% in the third quarter. Crossmark Global Holdings Inc. now owns 250,657 shares of the bank’s stock worth $667,000 after purchasing an additional 12,228 shares during the period. Finally, Catalytic Wealth RIA LLC lifted its position in Banco Bradesco by 34.1% in the third quarter. Catalytic Wealth RIA LLC now owns 46,774 shares of the bank’s stock worth $124,000 after purchasing an additional 11,883 shares during the period.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded up $0.03 during trading on Thursday, hitting $2.07. 54,401,316 shares of the stock were exchanged, compared to its average volume of 28,496,983. The stock’s fifty day moving average is $2.01 and its 200 day moving average is $2.33. The stock has a market cap of $21.98 billion, a PE ratio of 6.88, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $2.98.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, sell-side analysts anticipate that Banco Bradesco will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be paid a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Friday, March 7th. Banco Bradesco’s payout ratio is currently 6.67%.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.